Uniform Commercial Code
U.C.C. - ARTICLE 1- GENERAL PROVISIONS
..PART 1. SHORT TITLE, CONSTRUCTION, APPLICATION AND SUBJECT MATTER OF THE
§ 1-105. Territorial Application of the Act; Parties' Power to Choose Applicable Law.
(1) Except as provided hereafter in this section, when a transaction bears a reasonable relation to this state and also to another state or nation the parties may agree that the law either of this state or of such other state or nation shall govern their rights and duties. Failing such agreement this Act applies to transactions bearing an appropriate relation to this state.
(2) Where one of the following provisions of this Act specifies the applicable law, that provision governs and a contrary agreement is effective only to the extent permitted by the law (including the conflict of laws rules) so specified:
Rights of creditors against sold goods. Section 2-402.
Applicability of the Article on Bank Deposits and Collections. Section 4-102.
Governing law in the Article on Funds Transfers. Section 4A-507.
Bulk sales subject to the Article on Bulk Sales. Section 6-103.
[Note: If a state adopts the repealer of Article 6 Bulk Transfers (Alternative A), there should not be any item relating to bulk transfers. If, however, a state adopts Revised Article 6-Bulk Sales (Alternative B), then this line relating to bulk sales should be included.]
Applicability of the Article on Investment Securities. Section 8-106.
Perfection provisions of the Article on Secured Transactions. Section 9-103.
[Note: As amended in 1972, 1987, 1988 and 1989.]
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